American Economic Review: Vol. 104 No. 5 (May 2014)

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Why Has US Policy Uncertainty Risen since 1960?

Article Citation

Baker, Scott R., Nicholas Bloom, Brandice Canes-Wrone, Steven J. Davis, and Jonathan Rodden. 2014. "Why Has US Policy Uncertainty Risen since 1960?" American Economic Review, 104(5): 56-60.

DOI: 10.1257/aer.104.5.56

Abstract

We consider two classes of explanations for the rise in policy-related economic uncertainty in the United States since 1960. The first stresses growth in government spending, taxes, and regulation. A second stresses increased political polarization and its implications for the policymaking process and policy choices.

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Authors

Baker, Scott R. (Stanford U)
Bloom, Nicholas (Stanford U)
Canes-Wrone, Brandice (Princeton U)
Davis, Steven J. (U Chicago)
Rodden, Jonathan (Stanford U)

JEL Classifications

D72: Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
E23: Macroeconomics: Production
E52: Monetary Policy
E61: Policy Objectives; Policy Designs and Consistency; Policy Coordination
E62: Fiscal Policy
H50: National Government Expenditures and Related Policies: General
L51: Economics of Regulation


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